7 more properties of fugitive Nirav Modi to be confiscated in Surat

SURAT: Custom Department has filed an application in Surat Court seeking its nod for confiscating 7 properties of Nirav Modi, a fugitive businessman involved in PNB Scam case.

Custom department has started proceedings for confiscating a total of 7 properties of fugitive Nirav Modi based in Surat including Firestar international private limited & Firestar diamond international private limited based in Sachin SEZ (Special Economic Zone), plots owned by Radheshree Jewellery Company and offices of Firestar international private limited in Belgium Tower, Delhi Gate.

Surat district court has already approved the application for confiscating immovable properties of Nirav Modi including plots and shops based in SURSEZ and Balgium Towed and jewelleries worth Rs. 12.90 crores.

Nirav Modi had escaped to Britain after committing a scam in 2019 and he was declared a fugitive businessman after not remaining present despite receiving summons many times from the Custom Department. In March 2019, ED had confiscated documents of export of diamonds worth Rs 93 crores after a raid in Sachin SEZ. It was found after the investigation that the diamonds were exported after overvaluation and the actual cost of the diamonds was Rs. 5 crores only.